A. Condo Rental Market
- April 2023 rents increase by 1.0% from March 2023. RCR and OCR rents increase by 1.7% and 1.6% respectively while CCR records rent decrease of 0.2%.
- Year-on-year, overall rents increase by 29.9% from April 2022.
- Year-on-year, rents in CCR, RCR and OCR increase by 27.0%, 30.8% and 32.0% respectively.
- Volumes increase by 13.8% month-on-month. An estimated 5,598 units are rented in April 2023 as compared to 4,920 units rented in March 2023.
- Year-on-year, rental volumes are 5.2% lower.
- Volumes are 13.3% lower than the 5-year average volume for the month of April.
- Breaking it down by region, in April 2023, 35.3% of the total volumes are from OCR, 33.9% from RCR and 30.8% from CCR.
B. HDB Rental Market
- April 2023 HDB rents increase by 0.8% from March 2023. Mature and Non-Mature Estates rents increase by 0.1% and 1.2% respectively. Meanwhile, 3 Room, 4 Room, 5 Room and Executive rents increase by 0.4%, 0.9%, 1.0% and 0.1% respectively.
- Year-on-year, overall rents increase by 26.1%.
- Year-on-year, Mature Estates and Non-Mature Estates rents increase by 24.8% and 27.4% respectively.
- Year-on-year, all room types record rent increases: 3 Room by 22.9%, 4 Room by 26.8%, 5 Room by 29.5% and Executive rents by 24.5%.
- Volumes increase by 5.8% month-on-month. An estimated 3,183 HDB flats are rented in April 2023 compared to 3,009 units in March 2023.
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Year-on-year, rental volumes increase by 4.0% from April 2022.
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Volumes are 4.7% lower than the 5-year average volume for the month of April.
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Breaking it down by room type, in April 2023, 33.8% of the total volumes are from 3 Room, 35.2% from 4 Room, 25.2% from 5 Room and 5.8% from Executive.
